Monday, March 03, 2008

My views on 60,000 crore waive, the mark budget

Was late to share some thoughts about Indian budget because to the lack of internet connection on weekend. It was a marked budget by finance minster to waive 60,000 crore (600 billion) farmers loan in his announcement at parliament. It’s a good news for farmers who struggle to repay for the banks without much productivity, but how much this cancelation of loans help there future?... it may reduce the burden of past and present, but for future they still have the way to go. I feel instead of looking at the loans, the government may get a solution for what sent them to this place, and how to save farmers from committing suicide defeating the drought. Commonly we know the water scarcity is big problem in many parts of India for agriculture and second the funds for producing food grains while taking care on feeding cattle’s, money for laborers, medicines and other machineries. Even though waiving the 60,000 crore, its not going to bring a great changes in there life, still with empty hands and only without burden of borrowed, but also there are people left out who where getting money from private lenders and those repaid the money in a struggle situation and those already left there life who couldn’t pay.

Then, there was no announcement or sign to concentrate on linking rivers in the current budget, if anything happen on this would make solace for whole farmers across country. After waiting for something like this, good that our state of Tamil Nadu has comes to find directions for linking main rivers in state to avoid situations of floods and droughts. This budget is like showing colorful wafers and tasteless inside. Except cancelation of loans, the government was not suppose to save the farm lands turning rise on real estate and looking for flat promoters. I was on the suburbs this weekend, was really disturbed were the most fertility soil marked by stones for sale and the farm wells and lakes are filled with waters, but grounds empty without green. I stop for why not anyone to save the golden grasses from the destruction by humans, and thought about the budget that nothing does to help people on saving the well growing lands to bury under concrete floors.

In peoples mind this 60,000 crore farm loan cancelation puzzled, where the government would increase the Tax and put burden on common people to adjust the loan. Finance minister assured the banks, it could settle the amount of 60,000 crore within three years, but I think would he still be the finance minster for the upcoming 3 years? But alike this, can he assure there won’t be increment on tax debt? And second they announced tax reduction for small cars and 2-3 wheelers, oh I felt who needs this. Already the cities are gone into struggle in lack for controlling the traffic and increasing vehicle population. These days even the suburbs are not left alone from traffic of vehicles… in this time the tax less on it would rise the situation worst without proper roads first. The increased in tax for Computers would sure affect the public, were it was much useful device these days for people and in times people mostly middle class and lower are looking for systems and knowledge. Looking at everything on loan or the differences in tax, is nothing makes big difference on public , where it sunshine here and somewhere the dark night exist, so we can’t expect the sun to shine everywhere, but here the shining was overlooked above.


Alok said...

I haven't followed the budget in detail but from the snaps shots that I read on NDTV it seems you are right in waiving of the loan on the farmers. I think it is a short term measure and doesnt solve the underlying root of the problem but I think you have to appreciate that there was a lot of pressure on the govt to waive off these loans in the previous years (though I rem the govt at that time constantly toeing the line that waiving off the loan is not the right solution and they went on to do the same thing)

From a individual perspective I doubt whether you should have any complaints becoz the taxes have not been increased to squeeze the extra dime for the loan waive off ...

I agree with you on the cars bit .... but the alternative is only to improve the public transport mode which is a long shot and the govt has no immediate solutions for it ..

But I definitely think there were good things to take away from the budget which you could have covered in your review as well


Annie said...

My grandparents were farmers and they made a satisfying life from the work they did. But now their grandchildren who have continued to farm are struggling financially. It is more and more difficult for the small farmer to thrive without some favorable government policies.

Keshi said...

wow u r so knowedgable Jeevan. I admire ur interest in all of these areas and how u write abt it all with such a passion.

btw u'll love my current post and song ;-)


Ghost Particle said...

for an emerging new giant in world economy, the funds should not be a problem. the world is afraid of what has become of India and China. Whats left now is good governance. Then everything will fall into place. Maybe im wrong calling India a new economy, its an experienced giant. But kudos to the government on giving the attention to farming, the future is in survival, and food production is important.

On taxes, well...which country dont have that :p

krystyna said...

Hi Jeevan!
Your post is a called voice to make a better life in India.
India is a beautiful country and makes big progress last years, but there are still much problems to solve.
I wish your country people many successes.

krystyna said...

Thank you so much for visited my mom. She is really happy. Hope she'll write to you soon. But I don't know in which language.

Btw, I didn't forget about your tag. I'll write it in a good moment, ok?

Jeevan said...

Alok - Just for outer layer alone the politicians are suggest strongly for waiving the loan of farmers, not giving details of what is better way to solve the issue and to save farmers in future. As a one in public I doubt too the budget is indication of general election and we can’t sure the tax will be unchanged for little more years. True alok, I too agree the public transport should be encouraged for people to use than private vehicle for important purpose. Thanks for sharing your thoughts buddy.

Annie – grate annie, the farmers are best workers, who save for our every day food. Glad to know your grandparents are doing agriculture. Well annie, funds and then also the dryness of nature put farmers hard in productivity.

Keshi – Thank you dear :) that was a very nice post and superb trisha picture.

GP – Good governance and the policies of multi political parties stop the wealth and current growth in power sectors. I agree, the food is the main source of our energy and also need to look more than anything for the energy producers isn’t? Thanks for your thoughts bro.

Krystyna – Thanks so much dear. as your wish and all our wish too see India live in its beauty.

I was double the happier to know about your mom, sure she is doing great. I wish her all the best in health for long living and being guider for your family. I would be looking for her comments and blessings, hugs. Take you own time to do tag :)

Anonymous said...

I agree with your thoughts Jeevan...these days I'm too skeptical of the promises made by our different the public eye they are announcing populist measures but from the back door they are trying to squeeze the pockets of the ordinary public...& its an irony that taxes on 2-3 wheelers and cars go down and taxes on daily items are being raised slowly...well written!